Oragenics Inc (NYSEAMERICAN: OGEN) is having an overwhelmingly strong start to the trading session this morning, and for good reason. The company announced that it has received clearance to enroll patients into a clinical study. Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:
- The news;
- what we’re seeing from the stock; and
- what we’ll be watching for ahead.
OGEN Climbs On Clinical Update
As mentioned above, Oragenics is having an incredibly strong start to the trading session this morning after announcing a clinical update. In a press release issued earlyt his mroning, the company announced that it has received clearance to enroll patients residing in Belgium from the Begian Health Authority, into a Phase 2 Cclinical trial. The health authority that provided the clearance to OGEN was the Federal Agency for Medicines and Health Products.
The patients cleared for enrollment will be enrolled into a Phase 2 clinical trial of AG013. The treatment is a biotherapeutic product that is being assessed as an option for the potential treatment and prevention of OM. In a statement, Alan Joslyn, Ph.D., President and CEO at OGEN, had the following to offer:
Enrolling patients outside of the United States provides an expansive patient base from which to draw for our trial of AG013, allowing us to more rapidly reach our goal of enrolling between 160-180 evaluable patients… The combination of the expanded number of clinical sites in the United States and Europe along with recent warrant exercises generating proceeds of approximately $9.5 million, should enhance our ability to complete the clinical study in 2019.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of Oragenics, the news proved to be overwhelmingly positive. After all, with patient enrollment in Belgium, the company is making leaps and strides in the development of AG013. So, it comes as no surprise that excited investors are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:59), OGEN is trading at $1.22 per share after a gain of $0.095 per share or 8.41% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on OGEN. In particular, we’re interested in following the story surrounding the development of AG013 as well as the rest of the company’s pipeline. Nonetheless, we’ll continue to keep a close eye on the news and bring it to you as it breaks!
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